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Enter a loan to participator in CT600A in Corporation Tax Advanced

Before entering the participator's loan details, you'll need to develop a summary schedule.
  1. Go to the
    A Schedule [Adjustment of Profit]
    ,
    Develop
    ,
    Tax
    , then
    Loans to participators: Summary
    .
    note
    Corporation Tax Advanced produces a summary schedule and will complete it based on data you enter in the participator schedule(s).
  2. From the
    Loans to participators: summary schedule
    , select
    Develop
    , then
    Loan to participator — support schedule
     to develop the data entry schedule.
  3. Complete the schedule:
    1. Enter the participator's
      Name
      .
    2. In
      Adjustment to b/f amounts
      , enter any adjustments to the brought forward amount that aren't relevant for this return.
      note
      Include amounts relating to the repayment or release/write off in this period of loans made in previous periods. You can't claim relief for such amounts via the current period CT600A.
    3. In
      Net additions this return period
      , enter the amount of loans made this period net of any repayments/releases of current period loans.
      note
      Enter repayments or releases of prior period loans in
      Adjustment to b/f amounts
      .
    4. Current period loans repaid within 9 months
       — enter the amount of any repayment of a loan made during the current period within 9 months and 1 day of the accounting period end.
    5. Current period loans released or written off within 9 months
       — enter the amount of any release or write off of a loan made during the current period, within 9 months and 1 day of the accounting period end.
    6. Date of release, repayment or write off
       — enter the date for release, repayment or write off within 9 months and 1 day of the current period end.
    7. Current period loans repaid after 9 months AND return is submitted after relief is due
       — enter the amount of any release or write off of a loan made during the current period, but repaid more than 9 months and 1 day after the period end where the return is submitted, after the date on which relief is due. That is, more than 21 months after the period end.
    8. Current period loans released or written off after 9 months AND return is submitted after relief is due
       — enter the amount of any release or write off of a loan made during the current period, but released or written off more than 9 months and 1 day after the period end where the return is submitted, after the date on which relief is due. That is, more than 21 months after the period end.
    9. Date of release, repayment or write off
       — enter the date for release, repayment or write off after 9 months and 1 day of the current period end.
    10. Have loans this period been released or written off before the period end?
       — enter
      Yes
       or
      No
      .
      note
      Where loans have been made and released or written off wholly within the accounting period, you need to disclose them but not the amounts. If you enter
      Yes
      , Corporation Tax Advanced marks the
      A1
       checkbox on CT600A.
  4. If multiple participators have received loans, you can develop further support schedules from the summary schedule.

This article applies to:

  • PRODUCT: Digita Corporation Tax Advanced
  • Subject: Documents

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